US Patent Issued to Block on Oct. 20 for "Asset regulation network" (New York, California Inventors)

ALEXANDRIA, Va., Oct. 21 -- United States Patent no. 12,770,117, issued on Oct. 20, was assigned to Block Inc. (Oakland, Calif.).

"Asset regulation network" was invented by Disha Patel (New York), Jung Yeon Ryu (Fremont, Calif.), Leyli Guliyeva (Brooklyn, N.Y.), Rebecca Garner (Brooklyn, N.Y.) and Soren Iverson (Costa Mesa, Calif.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Particular embodiments receive a request to access an amount of the funds comprising a restricted balance associated with a restricted account of a user if a payment service prior to satisfaction of a condition associated with the restricted account. The condition, upon satisfaction, allows the restricted balance to transition to an un...